Rogues in the Real Estate Training Industry
Money can buy a lot of things. One of those things should not be an education. Education comes from hard work, dedication and the pursuit of knowledge. Not by how much money is in your back pocket.
Like many other industries, the real estate industry has both good and bad training providers. Unfortunately, some are more concerned about the money changing hands than the quality of graduates they are delivering. Some providers will even give you the qualification if you pay them the right sum of money…can you believe this? No wonder our industry keeps getting a bad wrap.
Good news is the government is catching on. Earlier this year, six private tertiary colleges and a further 23 vocational education institutions went under investigation in a major crackdown on dodgy education providers and false marketing techniques used to lure students.
“Any training providers found to be engaged in practices that are contrary to the required national standards could face regulatory sanctions, including the cancellation or suspension of their registration,” Assistant minister for education and training Simon Birmingham. The Brisbane Times
Hopefully this signifies the time is up on under par training providers delivering sub-standard education and weakening the strength of our Australian workforce and productivity.
Another issue of contention in the world of education and training is Recognition of Prior Learning – known as RPL.
Recognition of Prior Learning
RPL involves assessment of your experience, qualifications and competencies by a qualified training provider. It can decrease the amount of time and money to complete your course and obtain your qualifications. Sounds great right? But there are big and wide gaping holes. RPL can be (if not monitored and audited properly), a license to print money. Therefore there are many detrimental consequences of RPL to the industry, students and Australia.
Quality of Education
How much does this weaken our national standards of education? What benchmark does it set? We struggle to understand how a training provider can stand by its graduates when it has not delivered the course content their qualification claims.
If not regulated correctly RPL can be a money-spinner for training providers to certify students with minimal effort on their part.
So what steps can you take as a student to ensure you are getting quality education?
The Australian Skills Quality Authority (ASQA) is the national regulator for vocational education and training. Any Australian Registered Training Organisation (RTO) delivering education must register with the Australian Skills Quality Authority (ASQA) and undergo extensive auditing and compliance checks.
When choosing your training provider, ensure that the course you are undertaking and the training provider meet the Australian Qualifications Framework standards and are registered as a qualified RTO at The Australian Department of Education & Training – My Skills Website.
Finally, take your time to research and don’t let savvy marketing techniques and hooks fool you. ASQA has a great fact sheet of things to consider when choosing your training provider. In conclusion, by ensuring our future agents are trained by qualified RTOs, we ensure the longevity and prosperity of our real estate profession. Most importantly we assure that trust monies are held and managed by individuals who have the appropriate qualifications.
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~ Jane Morgan is the Director of End of Month Angels, a consultancy firm specialising in Trust Accounting. Jane knows the legislative requirements of running a successful Real Estate office through her 18 years industry experience. Don’t trust just anyone with your trust accounting. Trust End of Month Angels and get back to what you do best – growing your business.